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How to Design a Benefit Communication Strategy
Annual benefit enrollment periods are right around the corner. Soon financial officers and HR directors will be analyzing spreadsheets, benchmarking benefit offerings, and preparing for annual meetings. With all the time dedicated to evaluating benefits packages, now is a perfect time to evaluate your benefit communication strategies.
Benefits constitute up to 30-40% of an employee’s total compensation. Unfortunately, many employees mentally formulate an imbalance in their compensation package by maximize the value of their base salary while minimizing the value of all the other benefits offered. Why should employers care? If the goal is to recruit and retain top talent, creating awareness for the entire compensation package and its true value rectifies that imbalance and increases the overall appreciation for the entire package.
A benefit communication strategy should respond to four basic communication opportunities:
1. Recruiting
Start communication early. Educate candidates on everything that is offered. A benefit summary is a great tool, but don’t stop there. Show candidates that the organization values the benefits offered by discussing the details during the interview process. If it’s worth an interviewer’s time before the candidate has accepted an offer, they’ll know it is important once they become an employee.
2. Orientation
If benefits are communicated well during the recruiting process, the orientation becomes a simplified review of what’s been previously discussed. Because new employees are drowned in a sea of information, assume they’ll retain 10% of what is communicated on the first day. Keep communication simple, relevant to immediate needs, and write down contact information for an internal contact who can answer questions once the employee surfaces for air.
3. Annual Enrollment
With a non-existent communication strategy, annual enrollment meetings become a vomit session. Too much is communicated, forcing employees to wade through non-relevant information to make critical decisions. Communication during these meetings should be focused, easy to understand, and personalized so the employee can make educated decisions to appropriately respond to upcoming changes.
4. Ongoing Communication
Recognizing 10% of what was communicated on day one will be retained and annual enrollment meetings should be focused, a year-round communication strategy is the critical. Spread the bulk of benefit communication evenly throughout the year. Utilize timely, simple, yet creative, communication avenues at regular intervals to keep employees informed.
Ultimately, an effective benefit communication strategy doesn’t require re-inventing the wheel. Simply spreading communication throughout the employment life cycle is an effective way to see immediate results.
Learn more about how Skywalk Group’s HR Consulting team can assist you with your human resources and/or benefit programs.
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